Board of Commissioners Meetings

Superintendent's Recommendation:

MOTION TO ADOPT THE 2027 OPERATING BUDGET FOR PARKERS LAKE GOLF CENTER, WITH REVENUES AND EXPENSES OF $234,000 INCLUDING A BUDGETED CONTINGENCY OF $23,480.

Prepared By: Jeff May, Director of Enterprise Operations; Brad Chock, Director of Maintenance; Troy Nygaard, Golf Operations Supervisor; Mark Boonstra, Golf Maintenance Supervisor, and Shaan Hamilton, Chief Financial Officer;

Background:

Three Rivers Park District entered into a cooperative agreement in 2020 to operate Parkers Lake Golf Center. The specifics of the proposed operating budget are discussed in the attached 2027 recommended budget packet. An overview of the proposed budget includes revenues of $234,000 and operating expenses of $234,000 including a contingency of $23,480.

Attachments:

2027 Parkers Lake Budget draft TN JM SH.pdf

Superintendent's Recommendation:

MOTION TO APPROVE THE 2027 HYLAND-BUSH-ANDERSON LAKES OPERATING BUDGET IN THE AMOUNT OF $415,998.

Prepared By: Luke Skinner, Associate Superintendent and Shaan Hamilton, Chief Financial Officer

Background:

On December 19, 2024, the Board of Commissioners approved a five-year agreement with the City of Bloomington whereby the Park District will operate the Hyland-Bush-Anderson Lakes Park Reserve starting in 2025 and ending in 2029. Bloomington retains its ownership of the land and has pledged all regional park revenues it receives to the Park District. The existing Park District operations in Hyland Lake Park Reserve including cross-country skiing, the creative play area, boat rental, and the boat launch will continue to be included in the District's General Fund.

A new fund was created in 2025 to account for revenue and expense activity associated with this agreement and operating the portion of the park reserve that was previously operated by the City of Bloomington. To provide financial control and track the revenues and expenses associated with operating the Bloomington-owned portion of the park reserve, a variety of staff have worked together to prepare this operating budget.

2027 Budget Overview

The 2027 Hyland-Bush-Anderson Lakes budget is designed to provide maintenance, recreational opportunities and natural resources management for all regional facilities previously operated by the City of Bloomington.

The agreement provides for an annual contribution from the City of Bloomington along with the Park District receiving Bloomington's allocation of Met Council operation and maintenance grants. In addition, the Park District will receive all revenue related to the rental of the picnic shelters, the bandshell, and canoe racks. Expenses required to operate the new facility include two full-time maintenance staff, a variety of seasonal maintenance and operational staff as well as supplies and contracted services for maintenance and natural resources management.

Detailed information can be found in the 2027 Hyland-Bush-Anderson Lakes budget report.

Relationship to the System Plan:

The Request for Action supports the following goal(s) of the System Plan:

Goal 2: Parks Matter

Goal 3: Lead by Example

by managing the Park District's financial affairs in a fiscally responsible manner

Attachments:

2027 Bloomington Operations Budget.pdf

Superintendent's Recommendation:

MOTION TO ADOPT RESOLUTION NO. 26-15, A RESOLUTION AWARDING THE SALE OF $7,290,000 GENERAL OBLIGATION BONDS, SERIES 2026A; FIXING THEIR FORM AND SPECIFICATIONS; DIRECTING THEIR EXECUTION AND DELIVERY; AND PROVIDING FOR THEIR PAYMENT.

Background:

On August 20, 2026, the Board of Commissioners authorized the Chief Financial Officer (CFO) to prepare the official statement, set sale conditions, and solicit bids for the 2026 General Obligation Bonds. The bond proceeds of $7,154,000, in combination with a variety of additional funding sources, will provide the funds necessary to carry out the projects listed in the 2026 Asset Management Program (AMP).

The CFO has been working with the Park District’s Fiscal Advisor, PFM Financial Advisors LLC (PFM), and the Park District’s bond counsel, Taft Stettinius & Hollister, LLP, to issue the official statement and prepare for the sale. The sources of funding for the bonds include a par amount of $7,290,000 and a discount or premium to be determined when the bonds are sold on October 15, 2026. The uses of the bonds total $7,154,000 for project funding. Following the sale of bonds, the Park District will have approximately $64 million in debt outstanding.

The CFO requested a rating on these bonds on behalf of the Park District and participated in a credit discussion to review the Park District’s credit profile and the bond issue with Moody’s Investor Services on September 28, 2026. The Park District currently holds a ‘Aaa’ rating from Moody’s. The discussion with the Moody’s representatives went well with no major questions or issues raised. On October 6, 2026, Moody’s confirmed and published the Park District’s ‘Aaa’ rating citing the district’s strong economic base, stable reserves, and an expectation of future balanced operations.

The bonds are being sold by a competitive sale. Bids are due on the morning of October 15, 2026. Bond counsel will complete the multi-page resolution that will include the details of the bond issue including the name of the successful bidder, the interest rate, and required tax levies. A draft of this resolution is included with blanks that will be completed once the bids are received. The completed resolution will be e-mailed to Commissioners several hours before the meeting on October 15, 2026.

The bonds being sold are general obligation bonds, which require the Park District to levy property taxes to provide funds for their repayment. The information presented on August 20, 2026, estimated the property tax levy to be $675,000 annually starting in 2027 and ending in 2041. The CFO will update the Board on the actual levy required for the bonds since it is dependent on the interest rates and final structure of the bonds.

Relationship to the System Plan:

The Request for Action supports the following goal(s) of the System Plan:

Goal 1: You Belong Here

Goal 2: Parks Matter

Goal 3: Lead by Example

by financing park improvements as part of a well-planned and managed long-term debt strategy.

Attachments:

Resolution No. 26-15 Awarding the Sale of GO Bonds Series 2026A.pdf

Superintendent's Recommendation:

NO ACTION REQUIRED; THIS ITEM IS FOR INFORMATION AND DISCUSSION.

Prepared By: Shaan Hamilton, Chief Financial Officer

Background:

The Superintendent has led senior management through the budget process and is ready to recommend the 2027 General Fund budget to the Board of Commissioners. The 2027 Recommended General Fund budget totals $57,392,150; an increase of $1,979,137 over the 2026 budget. The table below shows the major revenue increases for 2027.

Revenue increases for 2027 are similar to the existing 2026 budget with approximately 79% of revenue coming from property taxes and 21% from other sources. The recommended revenue increases align with the budget goal to use non-tax revenues to maintain a low annual property tax increase.

Expenditure increases were prioritized based on maintaining existing service levels, providing competitive wages and benefits to employees, meeting contractual obligations, and addressing inflationary pressures. The table below shows the recommended expenditure changes, including the reallocations needed to balance the budget.

A draft of the 2027 General Fund Budget Book is attached and contains a narrative description of the Park District, its goals for 2027, and details of the budget changes that will help reach those goals.

Relationship of Board Action to the Budget

The Park District's budget process, shown in the table below, outlines the steps and board actions that will need to be completed in the next several months. The table also shows the current status of each step in the process.

Relationship to the System Plan:

The Request for Action supports the following goal(s) of the System Plan:

Goal 2: Parks Matter

Goal 3: Lead by Example

by ensuring the Park District's finances are property planned and managed.

Attachments:

2027 General Fund Operating Budget.pdf

Superintendent's Recommendation:

MOTION TO SCHEDULE A PUBLIC HEARING ON NOVEMBER 12, 2026, AT 5:30 PM, OR AS SOON THEREAFTER AS POSSIBLE, TO RECEIVE PUBLIC COMMENT ON THE PROPOSED 2027 GENERAL FUND OPERATING BUDGET.

Prepared By: Shaan Hamilton, Chief Financial Officer

Background:

The Park District, although not required to, has historically held a public hearing on the General Fund budget before approving and submitting the budget to the Hennepin County Board for their review. The purpose of this hearing is to provide an opportunity for the public to review the budget and provide comments to Commissioners.

The Superintendent and staff recommend that a public hearing be held at the next regular Board Meeting on November 12, 2026. The motion sets the time of the hearing as 5:30 p.m. or as soon thereafter as possible, meaning that the hearing should begin at 5:30 p.m. or, if the Board is in the middle of another agenda item, shortly after the conclusion of that item. Staff is recommending a 5:30 p.m. start to allow any interested citizens who may work until 4:30 p.m. or 5:00 p.m. time to commute to the Administrative Center to participate in the meeting.

At the end of the hearing, the Board of Commissioners will be asked to approve the budget and authorize its submittal to Hennepin County. Once submitted, the County has fifteen days to review and propose changes to the budget. Based upon discussions with County staff, the Park District is scheduled to present the budget at a Hennepin County committee meeting on November 17. The 2027 budget, with any input from Hennepin County, and the final tax levy will be presented to Commissioners on December 17, 2026. Approval of the 2027 budget and adoption of the final tax levy in December will complete the budget process.

Superintendent's Recommendation:

NO ACTION REQUIRED; THIS ITEM IS FOR INFORMATION AND DISCUSSION.

Background:

Commissioners are encouraged to share announcements and discuss ideas for future topics of interest.

Attachments:

Board Proposed Discussion Topics.pdf